Heritage Oil PLC said preparations are under way to drill a high-impact well in Area 7 in the Mediterranean offshore Malta.
The company detected the presence of multiple prospects and leads on 5,000 km of 2D seismic, including 1,400 km of infill and exploratory seismic shot in July 2011. A well on Area 7 would lie more than 150 miles northeast of Tripoli, Libya.
Heritage said interpretation of seismic data has confirmed the mapping of a highly attractive Lower Eocene carbonate reef play in a prospect in Area 7 and allowed for mapping with greater certainty a deeper carbonate reef play in the Cretaceous section of the prospect. Both targets are recognized major hydrocarbon producing zones in the central Mediterranean.
The company also recognized the presence of a north-south trending shelf margin on the eastern part of the blocks where a number of attractive reef prospects have been mapped.
Heritage holds 100% interest Area 2 and Area 7 that total 18,000 sq km 80 and 140 km, respectively, in 300 m of water from Malta’s southeastern coast. The Medina Bank-1 well was drilled in Area 2 in 1980 to 1,225 m but failed to reach target horizons estimated to be between 1,500 and 4,500 m.